Business Briefs

NZX revenue up

NZX said revenue rose 6.7 percent to $16.5 million in the September quarter with all divisions contributing to the growth.

In particular, the stock exchange operator experienced continued strong performance from its capital markets businesses and a busy period for contract development work in the company's market operations business.

NZX said it saw a flurry of Initial Public Offerings at the beginning of the quarter but activity in capital markets in general slowed towards the end of quarter as the markets awaited the outcome of New Zealand's general election.

New capital listed over the period fell 26.7 percent compared with the same quarter last year which included the listing of Z Energy.

Heartland New Zealand credit rating lifted

Heartland New Zealand said Fitch Rating has raised its long-term credit rating on the bank from BBB- to BBB.